15 venture, or other form of joint enterprise, employment, or fiduciary relationship between the parties, and neither party shall have authority to contract for or bind the other party in any manner whatsoever. 13.11.No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other person any legal or equitable right, benefit, or remedy of any nature whatsoever under or by reason of this Agreement. 13.12.Entire Agreement. This Agreement, together with any other documents incorporated herein by reference, constitutes the sole and entire agreement of the parties with respect to the subject matter of this Agreement and supersedes all prior and contemporaneous understandings, agreements, representations, and warranties, both written and oral, with respect to such subject matter. 13.13.Survival. All Sections, and any right or obligation of the parties in this Agreement, which by their nature should survive termination or expiration of this Agreement, will survive any expiration or termination of this Agreement.
19 usedtoidentifyanyindividualorcompany. “Third-Party Service(s)” means any software, software services, content, data, orother materials, including related documentation, that are owned by third parties other than Flowty. “Transaction(s)” has the meaning set forth in Section2.1. “Users” means any Independent Users, NFT Holders, or individuals and entities that access the Service. “User Data” means information, data, and other content, that is collected, downloaded,or otherwise received, directly or indirectly, from a User by or through the Service and is not made available publicly, but does not include any Statistical Data.
21 Independent Lender Digital Wallet from which the Loan Disbursement Amount was distributed pursuant to Schedule 2, Section 1.1. 1.3.Automated Settlement Process. In the absence of an Early Repayment, at the time the Loan Repayment Date and Time has been reached, the Flowty Smart Contract will initiate the following settlement process (“Settlement Process”) which will validate whether the NFT Holder has both selected the Loan Repayment Opt-In and has Fungible Tokens equal to or greater than the Loan Repayment Amount in the NFT Holder Digital Wallet (“Settlement Conditions”). Upon confirming that the Settlement Conditions are satisfied, the Flowty Smart Contract will distribute the Loan Settlement Amount and release the NFT Collateral and NFT Issuer Royalty as follows: (i) withdraw the Fungible Tokens in the amount of the Loan Repayment Amount from the NFT Holder Digital Wallet and, subject to Section 2.3 above, transfer such Fungible Tokens to the Independent Lender Digital Wallet; (ii) release NFT Issuer Royalty to Independent Lender Digital Wallet; and (iii) release the NFT Collateral to NFT Holder Digital Wallet. If there has not been an Early Repayment and one or more of the Settlement Conditions have not been met, the NFT Holder shall be deemed to be in default of the loan under the respective Direct User Agreement, and the Flowty Smart Contract will release the NFT Collateral to the Independent Lender Digital Wallet and release the NFT IssuerRoyalty to the NFT Issuer Digital Wallet. Flowty does not guarantee that the various functions of the Service and Flowty Smart Contact will be completed within any minimum amount of time following the end of the Loan Term, it being understood that the Service, including the Settlement Process, is subject to Downtime and other delays. 1.4.Automatic Loan Repayment Opt-In. At the time of adding a new listing to the Flowty marketplace, NFT Holder may opt-in to permit the Service to repay the Loan Repayment Amount from NFT Holder Digital Wallet in accordance with Schedule 2, Section1.3above (“LoanRepayment Opt- In”). If NFT Holder has selected the Loan Repayment Opt-In and there has been no Early Repayment, the Flowty Smart Contract will initiate the Settlement Process in accordance with Schedule 2, Section 1.3 above.You are strongly encouraged to select the Repayment Opt-In to reduce the risk of default in the absence of Early Repayment.